MSP Steel & Power has informed that the Board of Directors of the Company at its meeting held on December 10, 2014, inter alia, discussed and approved that due to adverse market conditions - poor demand coupled with scarcity of raw materials, which has impacted the Companys business, the Board of Directors has decided to opt for debt restructuring and the same has also been decided by the lenders of the Company in its Joint Lenders Forum (JLF) meeting as Corrective Action Plan (CAP). Further the Board has decided that the Company will approach all its lenders for the same.
The above information is a part of company’s filings submitted to BSE.
